Nature-dependent electricity contracts receive new Ind AS accounting, hedge designation, transition and financial-statement disclosure requirements fr...
Alternative GST remedy permitted protective writ intervention for ex parte adjudication, preserving independent appellate review of input tax credit d...
Assessment against deceased sole proprietor requires proceedings against the legal representative, rendering prior assessment and appellate orders inv...
Residential waste collection classification under SAC 999423 defeats composite-supply exemption where facilitating goods are not transferred to the lo...
Condonation of delay permits statutory appeal restoration where inadequate service explanation prevented consideration of reassessment and taxable-inc...
NCLAT upheld rejection of a society's belated claim in CIRP, holding that it had prior knowledge of the insolvency process, was called upon to file its claim, and had itself recorded that its dispute with the developer was fully and finally settled. In light of the approved resolution plan and the principles in RPS Infrastructure and Essar Steel, the Tribunal held that a delayed claim could not be entertained to reopen the CIRP after CoC approval. The later plea of breach of settlement was treated as an afterthought. As no independent infirmity remained in the resolution plan approval, the Tribunal declined appellate interference and left the plan undisturbed.
NCLAT upheld rejection of a society's belated claim in CIRP, holding that it had prior knowledge of the insolvency process, was called upon to file its claim, and had itself recorded that its dispute with the developer was fully and finally settled. In light of the approved resolution plan and the principles in RPS Infrastructure and Essar Steel, the Tribunal held that a delayed claim could not be entertained to reopen the CIRP after CoC approval. The later plea of breach of settlement was treated as an afterthought. As no independent infirmity remained in the resolution plan approval, the Tribunal declined appellate interference and left the plan undisturbed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
